Consider the following: Q=min{ 20 L, 83 K} PL=93, PK 96, P=97 and C =5462 What is the profit maximizing level of output?

Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter21: Production And Costs
Section: Chapter Questions
Problem 5WNG
Question
Consider the following:
Q=min{ 20 L, 83 K}
PL=93, PK 96, P=97 and C =5462
What is the profit maximizing level of output?
Transcribed Image Text:Consider the following: Q=min{ 20 L, 83 K} PL=93, PK 96, P=97 and C =5462 What is the profit maximizing level of output?
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